How to Guard Your Cryptocurrency Wallet Against Hackers: A Step-by-Step Guide

December 1, 2022 Joshua Ramirez

Hackers use ransomware-style tactics and rogue websites to force your employees’ PCs to mine bitcoins. Recently, several monitoring and anti-spyware applications have been released. Precisely what are you going to do to stop id?

What Is Cryptojacking?

As the name implies, cryptojacking involves the unauthorized use of another person’s computational resources to mine digital currency. Hackers try to use as many resources as possible, including computer data, servers, cloud infrastructure, and more, to mine bitcoin illegally.

In most cases, the infected device continues to function normally while the crypto-jacking malware is quietly running in the background, regardless of the delivery mechanism. They wouldn’t be alarmed unless they experienced poor performance, execution latencies, overheating, excessive power consumption, or high cloud computing costs.

Methods of Cryptojacking Use

Mining for cryptocurrency is an authorized process that generates new currency. When using this strategy, the first miner to successfully solve a complex computational challenge is rewarded monetarily. When this problem is fixed, blocks containing verified bitcoin transactions can be completed and added to the blockchain.

Coin mining, a method of earning cryptocurrency, is computationally intensive and energy intensive. Actual cryptocurrency coin mining is becoming costly due to rising prices. The cryptocurrency ecosystem is built in a way that makes mining more challenging, reduces mining rewards over time, and boosts mining competition.

Cybercriminals often steal energy and computing resources to cut down on mining expenses. Using different hacking techniques, they gain unauthorized access to computers that will carry out the computing task. Following this, the compromised machines are coerced into sending their findings to a server the hacker has access to.

Suspecting the Theft of Cryptocurrency

It may not be easy to spot cryptojacking since it is sometimes well-hidden or made to look like a helpful activity on your device. But here are three red flags to watch out for:

Indicators of cryptojacking include:

1. A Loss of Efficiency

One of the most apparent symptoms of cryptojacking is decreased performance for your computer or other computing devices. It would help if you were on the lookout for your device exhibiting poor performance, including slowness, crashes, and other issues. The onset of system slowdown might be an early warning sign. Your battery life seems to be less than usual, which might be another warning indicator.

2. Intense Cryptojacking

When a computer’s fan starts spinning more quickly than usual, it might be because a cryptojacking script or website is causing excess heat, and the fan is spinning to prevent the machine from overheating and catching fire. It’s resource-intensive, which might cause computer systems to overheat. This might potentially shorten or even damage computers.

3. Utilization of a Central Processing Unit (CPU)

A great way to check for cryptojacking is to examine the CPU use in your device’s Activity Monitor or Task Manager. Crypto-jacking scripts can be inferred from increased CPU usage while accessing a website with minimal media content. However, that operation can disguise itself as legitimate to thwart your efforts to stop the abuse. When your computer runs at total capacity, it will be sluggish and difficult to diagnose. Always keep this in mind.

Methods to Prevent Being a Cryptojacking Victim

1. Incorporate a Trustworthy Cybersecurity System

Protect yourself from crypto-jacking malware with the help of a comprehensive cybersecurity program like Kaspersky Total Security. It is best to take precautions against malware, such as installing security software, before you become a victim. It is also suggested that you upgrade your operating system, software, and apps, especially your web browser, to the latest version.

Keep up with the latest developments in cryptojacking as cybercriminals are constantly updating their software and developing novel distribution methods. By being vigilant and keeping up with the latest cybersecurity risks, you can detect cryptojacking on your network and devices and stop additional cyberattacks.